Japanese Candlesticks Analysis 17.04.2023 (USDCAD, AUDUSD, USDCHF)
USDCAD, “US Dollar vs Canadian Dollar”
On H4, the currency pair has formed a Hammer reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target for the correction might be 1.3395. Next, the price could rebound from this level and continue the downtrend. However, the price may drop to 1.3280 without correcting.
AUDUSD, “Australian Dollar vs US Dollar”
On H4, the currency pair has formed an Inverted Hammer reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target for the growth might be 0.6755. After testing the resistance, the quotes might break it and go on with an uptrend. However, the price may pull back to 0.6690 before growing.
USDCHF, “US Dollar vs Swiss Franc”
On H4, near the support level, the pair has formed a Long-Legged Doji reversal pattern. The instrument is now going by the reversal signal in an ascending wave. The target for the correction might be 0.8975. After testing the resistance, the price could rebound from it and go on developing the downtrend. However, the price may drop to 0.8860 without testing the resistance.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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